Vice President (VP), Marketing & Business Development Salary
The average VP of Marketing & Business Development in the United States earns approximately $122K annually. Total cash compensation to VPs of Marketing & Business Development bottoms out near $68K and approaches $224K on the high end; the biggest paychecks include approximately $51K from bonuses and almost $20K from profit sharing. Location is the biggest factor affecting pay for this group, followed by experience level. Medical benefits are awarded to most, and a strong majority earn dental coverage. Men working as VPs of Marketing & Business Development who took the survey just slightly outnumber women at 58 percent. For the most part, VPs of Marketing & Business Development enjoy their work and report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.
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|Salary||$60,187 - $191,071|
|Bonus||$1,250 - $50,912|
|Profit Sharing||$1,650 - $20,000|
|Total Pay (||$67,990 - $224,112|
Job Description for Vice President (VP), Marketing & Business Development
Vice presidents for marketing and business development serve as leaders in developing business and marketing opportunities for their organization. They help develop new products, work in planning and execution of sales, and ensure development and revenue benchmarks are met. They must develop strategies to build their company's customer base, identify potential partners, and implement strategies to achieve the company’s goals. These vice presidents also serve as a primary contact for the company and clients,Read More...
The majority of the vice president's time is spent in an office environment, with substantial travel possible for meetings, presentations, and personal discussion with prospective clients and partners. This is a full-time position, although substantial overtime may be required depending on the business' needs. Senior vice presidents of marketing and business development generally report to the president of the company or another top-level executive; the vice president typically works closely with the president on high-level decision-making.
Vice president of marketing and business development positions typically require at least a bachelor’s degree in a related field, along with at least five to 10 years of relevant experience. Vice presidents of marketing and business development must have excellent interpersonal skills, good business judgment, high oral and written communication skills, and excellent strategy development abilities.
Vice President (VP), Marketing & Business Development Tasks
- Oversee staff operations, business planning and budget development.
- Develop and maintain relationships with decision makers of new and existing clients, and media outlets.
- Research and analyze target markets to develop strategic and tactical plans to grow the business.
- Plan, direct and set the strategic direction of marketing and business development initiatives within an organization.
- Develop pricing strategies and media relations plan, balancing firm objectives and customer satisfaction.
Common Career Paths for Vice President (VP), Marketing & Business Development
Vice President (VP), Marketing & Business Development Job Listings
Popular Skills for Vice President (VP), Marketing & Business Development
Survey results suggest that VPs of Marketing & Business Development put a wide range of professional skills to use. Most notably, skills in Product Development, Microsoft Office, Strategic Marketing, and Customer Relationship Management are correlated to pay that is above average, with boosts between 5 percent and 9 percent. Skills that are correlated to lower pay, on the other hand, include Marketing Management, Product Marketing, and Marketing Communications. It is often found that people who know New Business Development are also skilled in Product Marketing.
Pay by Experience Level for Vice President (VP), Marketing & Business Development
Median of all compensation (including tips, bonus, and overtime) by years of experience.
VPs of Marketing & Business Development who reported more years of relevant experience also reported higher earnings. Relatively untried employees who have less than five years' experience have a median salary of $85K. Those who have been around for five to 10 years can expect to take home more — $91K on average. Experienced professionals who have spent one to two decades on the job can score lucrative paychecks that average out to $150K. People who have worked for more than 20 years report a median income of $156K, which is barely higher than the median for folks with 10 to 20 years of experience.
Pay Difference by Location
New York offers some of the highest pay in the country for VPs of Marketing & Business Development, 47 percent above the national average. VPs of Marketing & Business Development can also look forward to large paychecks in cities like San Francisco (+37 percent), Los Angeles (+29 percent), Atlanta (+13 percent), and San Diego (+13 percent). The lowest-paying market is Dallas, which sits 49 percent below the national average, proving that location is a significant contributor to overall pay. A couple other locations with smaller-than-average paychecks include Denver (35 percent lower) and St. Louis (23 percent lower).
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Key Stats for Vice President (VP), Marketing & Business Development
Rated 5 out of 5
based on 25 votes.